1. Benefits and programs for retired Endowed Faculty and Staff
Cornell University
Division of Human Resources
Retirement and Beyond
Benefits and programs for retired Endowed Faculty and Staff

2. Retirement and Beyond
No mandatory age for retirement from Cornell University
To receive certain benefits you must:
have at least 10 years of credited service and
be at least age 55 2

3. Retirement Notice
Notice of retirement date should be provided to your department
Written notice is recommended 3

4. Health Insurance Eligible If age 55 or older, and
Have 10 years or more of benefits eligible service with the university 4

5. Health Insurance continued
Aetna Retiree Service Center:
Your resource to answer questions and receive guidance about your health plan
Tell Aetna you are a Cornell employee
Enrollment and coverage
Health premium, billing and payment
ID card cards
Note: Exception, for questions about OptumRx prescription drug coverage, you need to call OptumRx. 5

6. Health Insurance continued
Health Plans available
- administered by Aetna:
* Retiree Pre-Medicare Health Plan (RPHP)
* Retiree 80/20 Plan
* Aetna Medicare Advantage Plan (MAPD) 6

7. Health Insurance continued
Health Plan Effective Dates:
Endowed health plan continues to the end of the month in which you retire.
Example 1: Retire effective 6/15, active plan continues to 6/30 (at no additional cost). Retiree 80/20 Plan or RPHP Plan starts 7/1/17.
Example 2: Retire effective 7/1, Retiree coverage starts 7/1. 7

8. Health Insurance continued
For bi-weekly employees:
Select your retirement date carefully and avoid being double billed.
If you retire near the end of the month during a pay period that crosses into the next month, you will be double-billed for health insurance and you will not receive a refund! 8

9. Health Insurance continued
Bi-weekly Example of Selecting a Retirement Date with a Pay Period that crosses into the next month.
Retirement date: 4/29/2017
Pay period: 4/27 – 5/10/17 (health insurance premium deducted from 5/18/17 paycheck)
Last day of work: 4/28/17, falls during a pay period for a biweekly employee. 9

10. Health Insurance continued
The active health plan continues through the last day of the month in which you work.
The 5/18/17 paycheck includes a full health insurance premium. It cannot be pro-rated.
You will not receive a refund for the period 5/1-5/10/17 which overlaps the billing from Aetna. Avoid paying this by selecting a retirement date that does not cross into the next month!
Aetna starts the retiree coverage (and billing) the first day of the month following retirement, 5/1/17. 10

11. Health Insurance continued
If you are not enrolled in an endowed health plan prior to retirement:
Aetna will send you an Enrollment Guide following the date Aetna receives notification of your retirement from Cornell.
This is your one-time opportunity to enroll (Note: The Retiree 80/20 is retro to retirement date/M.A. prospective). You will have 90 days to enroll. 11

12. Health Insurance continued
All retirees take note:
Once retired, if you discontinue your coverage for any reason, you will not be able to re-enroll at a later date. 12

13. Health Insurance continued
Retiring under age 65-Retiree Pre-Medicare Health Plan
You will be automatically enrolled in the Aetna’s Retiree Pre-Medicare Health Plan (RPHP)-Department needs to process your retirement in WD timely! 
Aetna will send you and your dependents an enrollment guide following the date Aetna receives notification of your retirement
Similar to the CPHL and WCM-PPO Plans
Your dependents under age 65 and not Medicare Eligible will also be automatically enrolled in the RPHP 13

14. Health Insurance continued
Retiring under age 65-Retiree Pre-Medicare Health Plan:
Your dependents age 65 and older (Medicare Eligible) will be automatically enrolled in the Retiree 80/20 Plan-designed to pay secondary to Medicare (Medicare Advantage will be offered)
Your dependents who are Medicare eligible due to disability MUST enroll in both Medicare A and B effective as of your retirement date. Medicare becomes primary.
Cornell continues to pay the same share of the premium 14

15. Health Insurance continued
Retiring under age 65-Retiree Pre-Medicare Health Plan (continued):
Once retired be sure to contact Social Security 3 months before you (or your dependents) turn 65 to enroll in both Medicare Parts A & B! (Avoid late enrollment penalties) 15

16. Health Insurance continued
Retiring at age 65 or older (Medicare Eligible)-Auto Enrolled in Retiree 80/20 Plan
Health plan enrollments are on an individual basis like Medicare.
You will be automatically enrolled in the Retiree 80/20 Plan
Your dependents age 65 and older and Medicare eligible are automatically enrolled in the Retiree 80/20 Plan
Your dependents under age 65 automatically are enrolled in the Retiree Pre-Medicare Health Plan (RPHP).
Coverage is effective the first of the month following your retirement date (unless your retirement date is the first of that month)

17. Health Insurance continued
Retiring at age 65 or older (Medicare Eligible)-Auto Enrolled in Retiree 80/20 Plan 
Aetna will send you and your dependents an applicable Enrollment Guide following the date Aetna receives notification of your retirement from Cornell (approximately 14 days)
You will have 90 days from the date of your retirement to consider enrolling in Aetna’s Medicare Advantage Plan. 17

18. Health Insurance continued
Retiring at age 65 or older (Medicare Eligible)-Auto Enrolled in Retiree 80/20 Plan (continued)
The Aetna Medicare Advantage Plan is on a go forward basis in accordance with Medicare. MA covers the first day of the month following month the date your coverage is accepted by CMS. Medicare approves 8/12, coverage starts 9/1. The MA coverage is always prospective in accordance with CMS rules. 18

19. Health Insurance continued
Retiring at age 65 or older (Medicare Eligible)-Auto Enrolled in Retiree 80/20 Plan (continued)
Enrollment in Medicare Parts A & B is required. Be sure to contact Social Security to enroll in both Medicare Parts A & B. Social Security applies lifetime penalties for missed deadlines.
Medicare is your primary insurance coverage and Aetna is the secondary insurer for you and your age 65 dependents (due to age or Medicare eligible due to disability.) 19

20. Health Insurance continued
Retiring at age 65 or older (Medicare Eligible)-Auto Enrolled in Retiree 80/20 Plan (continued)
Medicare Part A: hospital services;
Medicare Part B: doctor office visits
Medicare Part A is free;
Medicare Part B is a monthly premium of $
(Higher Income beneficiaries may pay more) 20

21. Health Insurance continued
Medicare Part D-Medicare Provides coverage for prescription drugs
If you (and/or your dependents) are Medicare eligible, enrolled in the Retiree 80/20 Plan, do not enroll in Medicare Part D! Drug coverage is provided by OptumRx and is better than the standard Medicare Part D coverage
If you do enroll in a Medicare Part D Plan, the Aetna Retiree 80/20 Plan through OptumRx, will NOT provide additional coverage or reimbursement. You cannot use your OptumRx card! 21

22. Health Insurance continued
Medicare Part D-Medicare Provides coverage for prescription drugs (continued)
If you enroll in the Aetna Medicare Advantage Plan, it includes coverage for prescription drugs. Do not enroll in a separate Medicare Part D Plan!
CMS does not permit enrollment in both a Medicare Advantage Plan and a Medicare Part D Plan. CMS will cancel the Medicare Advantage Plan – leaving you without medical coverage. 22

23. Health Insurance continued
Aetna Medicare Advantage Plan for Medicare Eligible Retirees/Dependents
Enrollment in both Medicare Parts A & B required
Aetna Medicare Advantage is PPO Plan (USA Residency)
100% Preventive care covered
$25 copay Physician Office visits/lab/x-ray/testing
$250 per Hospital stay
Prescriptions through Aetna Pharmacy Management
CMS does not allow you to enroll in both a standalone Med D Plan and a Medicare Advantage Plan!

24. Health Insurance continued
Medicare Advantage 
Puts all of the pieces together for a coordinated and integrated benefit
One Aetna ID card used for both Medical and Pharmacy together
Medicare ID card no longer presented to provider – store at home
Two Explanation of Benefits; one monthly each for medical and pharmacy 24

25. Health Insurance continued
Aetna’s Medicare Direct Program
Retiree needs to enroll (applies to Retiree 80/20 Plan only)
Once enrolled, doctor submits claim to Medicare Part B
Medicare makes payment and forwards claim to Aetna
Aetna processes claim 25

26. Health Insurance continued
Health Insurance Premium Payment
Plan and rates are individual
If you and your dependents are enrolled in the same Aetna health plan, you’ll receive 1 household bill
If you and your dependents are enrolled in Aetna Medicare Advantage Plan and any of the other retiree plans: RPHP, Retiree 80/20 Plan, you’ll receive separate invoices 26

27. Health Insurance continued
Health Insurance Premium Payment (continued)
If you have a sick leave credit, it will not be listed as a separate line item on your bill but will be reflected in the bill – due to timing issues, it may not be reflected in your first bill
Bill viewable online through the Aetna Retiree Portal 27

28. Health Insurance continued
ID cards
Retiree Pre-Medicare Health Plan-Shared Aetna ID card-same WID# (OptumRx ID is shared)
Retiree 80/20 Plan-All members receive own ID card-same WID# (OptumRx ID is shared)
Aetna Medicare Advantage Plan-All members receive own ID card-unique WID#
Split Coverage: RPHP share ID Card, Retiree 80/20 Plan or Aetna Med. Advantage –unique Medical ID
OptumRx ID card remains active for the RPHP and Retiree 80/20 Plan 28

29. Sick Leave Conversion Program
Credit for unused sick leave accumulated at the time of retirement
Dollar credit applied to cost of health insurance coverage
Credit is limited to one-half the cost for single health insurance coverage
Endowed faculty have equivalent of 30 days sick leave
Endowed staff accrue up to 90 days of sick leave 29

30. Dental Insurance Ameritas Dental Plan is not available in retirement
Eligible to enroll in COBRA (Consolidated Omnibus Budget Reconciliation Act) to continue dental insurance for up to 18 months only
Ameritas Retiree Dental Plan is available, no waiting period if enrolled due to loss of coverage within 30 days of the loss
Can enroll anytime with waiting periods 30

31. Flexible Spending Accounts
Medical Care Reimbursement Account
Submit claims for expenses incurred prior to your date of retirement
After your date of retirement you may continue to participate by enrolling in COBRA and making after-tax contributions during the remainder of the same calendar year in order to claim expenses incurred after your retirement date, and to exhaust any remaining balance in your account 31

32. Flexible Spending Accounts
Dependent Care Reimbursement Account
You may continue to remit expenses incurred during the plan year against any unused balance until your account is exhausted, or the plan year ends (March 15), whichever comes first
Claims for the current plan year must be submitted and postmarked no later than April 30 of the following year
For more information, call Benefit Services at 32

33. Cornell University Retirement Plan (CURP)
(University contributions to your Retirement Plan Account)
Benefit distributions eligibility:
You have terminated employment
You are on approved Phased Retirement
Many payment options are available – view Webcasts
TIAA
Fidelity Investments 33

34. Cornell University Retirement Plan (CURP)
(university contributions to your Retirement Plan Account)
Payment Options (may not apply to all funds):
Single Life Annuity
Survivor Annuity
Guaranteed Period
Systematic Withdrawal
Interest Only Option
Transfer Payout Annuity
Cash Withdrawal
Minimum Distribution at age 70 ½ 34

35. Cornell University Retirement Plan (CURP)
(university contributions to your Retirement Plan Account)
Distribution forms may be obtained by contacting the individual investment vendor.
For personal counseling appointments call:
TIAA
Fidelity Investments 35

36. Cornell University Tax Deferred Annuity Plan (TDA)
(Your contributions to your Retirement Plan Account)
Benefit distributions eligibility:
You have terminated employment
Distributions while employed if at least age 59 1/2
Many payment options are available – view Webcasts
TIAA
Fidelity Investments 36

37. Cornell University Tax Deferred Annuity Plan (TDA)
(Your contributions to your Retirement Plan Account)
Payment Options (may not apply to all funds):
Single Life Annuity
Survivor Annuity
Guaranteed Period
Systematic Withdrawal
Interest Only Option
Transfer Payout Annuity
Cash Withdrawal
Minimum Distribution at age 70 ½ 37

38. Cornell University Tax Deferred Annuity Plan (TDA)
(Your contributions to your Retirement Plan Account)
Distribution forms may be obtained by contacting the individual investment vendor.
For personal counseling appointments call:
TIAA
Fidelity Investments 38

39. 457(b) Deferred Compensation Plan
Benefit distributions eligibility:
You have terminated employment
Must make distribution election within 60 days of separation of service (retirement or termination)
Many payment options are available – view Webcasts
TIAA
Fidelity 39

40. 457(b) Deferred Compensation Plan
Payment Options (may not apply to all funds):
Single Life Annuity
Survivor Annuity
Guaranteed Period
Systematic Withdrawal
Interest Only Option
Transfer Payout Annuity
Cash Withdrawal
Minimum Distribution at age 70 ½ 40

41. Social Security
Full retirement benefits determined based upon your year of birth; may receive benefits as early as age 62
Contact the Social Security Administration
Main Office
Local Office 41

42. Basic Life Insurance
Employees who are at least 55 years of age with 10 or more years of service receive a $3,000 life insurance policy at no cost
You can convert difference between active basic life insurance and $3,000. Call AmWins Group Benefits at for conversion information. You will have 31 days from the date of your retirement or 15 days from the date of your letter to convert. 42

43. Group Universal Life (GUL)
You may continue the same level of coverage you have as an active employee. You will have 60 days from the date you receive billing from CIGNA to port coverage.
No medical evidence will be required to continue your coverage if this is completed within the 60 day period. 43

44. Group Universal Life (GUL)
Rates will increase based upon your age and level of coverage.
For questions, call CIGNA at 44

45. Personal Accident Insurance (PAI)
May convert to an individual policy if you are under age 70
PAI is not available to retirees 70 or older
Spouses of active or retired employees who are 70 or older are also not eligible for PAI
For questions, call CIGNA at 45

46. CIGNA’s Trusted Advisor
This website provides a secure and easy way to access coverage information for your retiree Basic Life and Group Universal Life (if you port this coverage after retirement).
From this site you can enter current beneficiary information and make changes whenever you choose. It will also allow you to print off your designations for your records. 46

47. CIGNA’s Trusted Advisor
All previously completed paper forms continue to reside with CIGNA and will be honored in the event that you do not complete an online designation. 47

48. Educational Benefits
Cornell Children’s Tuition Scholarship Program (CCTS)
Level of active benefit continues into retirement
Must be at least age 55 years old, with 10 years of service
For more information on this benefit contact Benefit Services at 48

49. NY College Savings Plan
Retirees currently enrolled in the plan through payroll deduction, should contact NYSAVES at to set up direct billing
Retirees may also enroll in the plan on line at: 49

50. Faculty Staff Assistance Program
Formerly known as EAP: Employee Assistance Program
Assessment, Counseling, and Information and Referral Services
Phone service available 24 hours a day, 7 days a week
(5-COPE)
312 College Avenue, Suite A 50

51. Auto/Home/Pet Insurance
You need to contact Mercer Voluntary Benefits to set up for direct billing of your auto/home/pet insurance
For information, call Mercer Voluntary Benefits at
You can also access information by logging on to 51

52. Long-Term Care CNA plan members will be billed for the premiums
Retirees and their spouses/domestic partners may enroll at any time in a Long-Term Care Plan through RetirementGuard. Proof of medical insurability will be required. For enrollment or more information call (888) 52

53. Legal Plan Insurance
Once you retire, you will need to contact ARAG at to be set up for direct billing
You will be billed for the same rates as you paid as an active employee
Retirees may enroll if they have a life event or during the annual open enrollment period 53

54. Benefit Services For more information, contact:
395 Pine Tree Road, Suite (607) (fax)
Ithaca, NY
Pre-Retirement Planning webpage: 54